The market for economists in Greenland has recently experienced an increase in the number of economists employed and an increase in the wage paid to economists. What could have generated such a change?
A. The demand for economists remained unchanged while the supply of economists decreased.
B. The demand for economists recently decreased while the supply of economists remained unchanged.
C. The demand for economists recently decreased while the supply of economists recently increased.
D. The demand for economists remained unchanged while the supply of economists increased.
E. The demand for economists recently increased while the supply of economists remained unchanged.
Answer: E
You might also like to view...
Assume two people live in the same neighborhood, the same size house and earn identical incomes. Both are unmarried without children. How might one of them actually be poorer than the other?
What will be an ideal response?
The difference between a fixed tax and a variable tax is that
a. fixed taxes can never be changed, but variable taxes can be changed. b. a change in fixed taxes has no effect on aggregate demand, but a change in variable taxes has an impact. c. a variable tax changes when GDP changes, but a fixed tax does not change with GDP. d. a variable tax can be changed easily, whereas changing fixed taxes requires a constitutional amendment.